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Serabi Gold Hit Best Quarterly Gold Production in 2Q Since 2019

15 July 2021

Serabi Gold PLC said Thursday that its second-quarter gold production was its best quarterly performance since 2019, adding that it remains ahead of its internal production guidance.The Brazil-focused miner said total ore mined during the quarter stood at 43,051 tons at 7.12 grams per ton of gold, which represents a 27% improvement in grade compared to the 2020 average.The company also produced 9,274 ounces of gold during the second quarter, up from 8,504 ounces for the year-earlier period, it added."After an encouraging first quarter in 2021, we have built on that with an excellent second quarter producing over 9,200 ounces. This is largely the result of a healthy improvement in mined grades...At the mid-year we remain ahead of our internal production forecast and remain on track to meet 2021 guidance," Chief Executive Mike Hodgson said.

Shares at 0809 GMT were up 2.00 pence, or 3.1%, at 66.00 pence.